Wednesday, April 2, 2014

Lifetime Cap on Retirement Savings - Bad Idea explained Here

NAPA.net put out a good "Case of the Week" explanation of the "$3.2m Lifetime Savings Cap", as proposed by the president in his last couple of budgets.

The explanation is very good and within the article it explains the thinking and mechanics of it. I agree with the conclusion that this would be administratively impossible to enforce and due to bipartisan opposition is a non-starter. However, it does illustrate that the current political regime is looking at tax-advantaged retirement programs as a potential place to help them ease their irresponsible overspending. This is only one of many different attacks on the current privatized retirement system. Article linked here -->